hey guys,
two weeks long consolidation on wti.
the price was trading within a narrow horizontal range bouncing from 31.5 support and respecting 34.4 resistance.
Friday's price action was different.
it was the first time when the price set a higher low after testing the support of the range.
and then, during the US session BOOM, the range is broken to the...
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Its highly bullish since the market negative values. Look at the monthly time frame its a perfect breakout off the key level which can be considered as the major one on the market. Now we...
UKOIL reversed off its resistance at 35.94 where it could potentially drop further to 32.03.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Earlier I posted an updated map where I was expecting a simple ABC correction down to hit 31-32 (see related)
It emerged as double three WXY instead and the wave (X) ran deeper to retest the start of wave (W) making it classic flat correction.
It looks finished as wave C of (Y) unfolded as an Ending Diagonal.
It was broken up now and the calculated target is...
hey guys,
WTI is retesting a key daily structure resistance.
the price has just been rejected on 1H and formed a double top formation.
to short I will be waiting for a breakout of the underlined yellow structure support (1H candle close below).
target levels will be 33.0 / 31.6
stop will be placed above the tops!
the price may coil for a while within the...
UKOIL reversed off its resistance at 36.66 where it could potentially drop further to 32.63.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USOIL idea buy and short
I expect a rise to the price of 36-36.5 and a fall to level 28.
In the sales area you need to wait for the signal to sell because the price can go higher + trade against the trend.
UKOIL reversed off its resistance at 36.66 where it could potentially drop further to 32.03.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
There seems like a top is forming in Brent Oil, and a possible head and shoulders formation forming. In the chart there is a left shoulder and a head. Currently we are missing the right shoulder.
Currently todays market open has shown P action below the inner downward trend line and inner upward trend line. Currently watching P action to see if Bulls Vs Bears has the strength.
Daily View:
Published chart 4hour view above ^
Also see Gap for slight interest area if price is more bullish this week.
📈Support & Resistance📉*
Support Levels
1st Support...
Brent Oil rallying to 36 last week; 3 weeks after our prediction. Now that Brent Oil has tested 36, any price rejection can see the commodity going down to test its bullish order candle below 28. Before then, enjoy the bulls while it last...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
We got the first strong move down after a huge impulse up that more than doubled crude oil price and hit the target set at 36.90.
The wave C up in a correction could be over soon and crude oil then could drop into the blue box area of 31-32.
Crude may hit more high due to the increase in demand as many countries have open the lockdown and technically the RSI divergence is visible.
The weekly close above the 30.12 will give a positive view in the analysis.
